Foxconn invests $30 million in HKSTP partner firm Robocore
This investment marks Foxconn’s official entry into the smart robotics market, bolstering its smart manufacturing and AI ecosystem, while paving the way for Robocore’s future IPO.
Robocore Technology Limited, a partner company of Hong Kong Science and Technology Parks Corporation (HKSTP), has announced the recent completion of its Series D funding.
Taiwanese precision electronics manufacturer Foxconn Technology Co., Ltd. (FTC), through its wholly-owned subsidiary Q-Run Holdings Limited, has made a strategic investment in Robocore’s wholly-owned subsidiary RoboTemi Global Ltd. This investment marks FTC’s official entry into the smart robotics market, bolstering its smart manufacturing and AI ecosystem, while paving the way for Robocore’s future IPO, according to a media release.
The transaction involves a total potential investment of up to USD 30 million from FTC, beginning with an initial USD 10 million investment in preferred shares, acquiring a 6.6% equity stake in RoboTemi Global Ltd. The agreement also includes two subsequent investment tranches of USD 10 million each, which may be exercised on the first and second anniversaries of the initial investment. Valuations for these tranches will be determined by mutual agreement or third-party assessment.
“This is more than a capital injection — it’s an affirmation of our company’s future prospects,” said Roy Lim, CEO of Robocore Technology. “With world-leading manufacturing and supply chain capabilities, FTC will join forces with us to accelerate our growth, expand into new markets, and help us stride confidently toward our IPO milestone.”
“AI empowers Hong Kong’s long-term economic development. HKSTP is pleased to see Robocore’s rapid growth and global impact,” said Eric Or, Acting Chief Operating Officer of HKSTP. “Robocore’s successful funding round not only signifies that a world-leading technology enterprise has endorsed its core robotics technology, but also proves that Hong Kong’s tech ventures can firmly establish their position on the global stage.”
Headquartered in Hong Kong Science Park, Robocore is an open-platform service robotics enterprise. Its products are deployed at nearly 20,000 client sites worldwide. Additionally, it serves over 5,000 sites in the US, spanning hospitals, elderly homes, retail chains, and households.
With FTC’s strategic and manufacturing support, Robocore is expected to achieve three-fold revenue growth over the next three years and aims for a five-fold increase by 2028, the media release said.
